March 24, 2023 Mortgage Rates: Steady or Sinking?

Mortgage rates have dropped significantly, with the 30-year mortgage average falling by more than a quarter percentage point. The 30-year average is now at 6.65%, its lowest level since February 9. Refinancing rates have also decreased, with the 30-year refi average dropping by 29 basis points. Jumbo 30-year rates remain steady at a 5.77% average. The Federal Reserve's bond-buying policy and competition between lenders are among the factors that influence mortgage rates.